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president obama says it will take a few more years. a few more years for the u.s. to solve its economic problems. tonight he will tout his so-called promises kept over the past four years at the democratic national convention. a celebration of failure. that's what mitt romney called it. did he keep his promises -- obama that is. why should his contract be renewed as president clinton said last evening. speaking about president clinton and his fine speech last night, tonight we have to take a look at something he said last evening. take a listen. >> when times are tough and people are frustrated, angry, hurting and uncertain, the politics of constant conflict may be good. but what is good politics does not necessarily work in the real world. unfortunately the faction that now dominates the republican party doesn't see it that way. they think government is always the enemy. they are always right and compromises weakness. >> it's good advice that the politics of cooperation are better than the politics of conflict. it has not happened under president obama in washington, d.c. which leads m
-killing obama care nationalized medicine. record gas prices? a record number of americans on food stamps, doubling in the past four years to 47 million. this comes as a debt clock goes above the $16 trillion dollar mark. and the worst josh, an worst economy record in the post war era, back to 1947. so go ahead and celebrate, democrats. but as my mentor ronald reagan used to say -- >> ask yourself, are you better off than you were four years ago? is it easier for you to go and buy things in the stores than it was four years ago? is there more orless unemployment in the country than there was four years ago? >> well, i don't think so. and i don't think the democrats should be celebrating. that's just my opinion. we will debate. and also, a comment reportedly by bill clinton has everyone buzzing. quote, a few years ago this guy, meaning president obama, would have been carrying our bags. quite a distasteful comment. but ed klein, author of "the amateur" is our special guest on the whole clinton speech and the convention. the market down $55, the ism manufacturing index fell below 50 for the
over the past year signaling obama as our next president? this is the kudlow report. the fbi is on the ground in libya investigating last week's assault on our embassy there which resulted in the death of four officials including our ambassador. and today after more than a week of denials, the white house finally admits it was a terror attack. unfortunately they have been lying to us for more than a week for political campaign reasons and i think it's emperative that ambassador susan rice step down immediately. and going to ask homeland security team -- mitt romney, one reason why obama's polls are looking stronger could be the stock market owning investor class. he's very happy with a 25% gain just over the last year. and new studies show that stocks predict elections better than any other variable. but first up, after nine days, the u.s. government is finally calling the consulate attack in benghazi, an act of terrorism. the fbi now on the ground in libya. here's the latest. >> caller: good evening, larry, the fbi has arrived in tripoli, libya where they are carrying out an
him now, eliminated. and what is president obama going to do about this, not meeting with world leaders, not meeting with israeli prime minister netanyahu? this is when president obama says israel is one of our best friends in the region, just one. instead, he's yacking it up on daytime talk shows like "the view" and while there he refused to call the libyan attack on our embassy an attack of terrorism. tonight we'll look at one more sign of the weakness of this amateur president instead of a world leader. >>> also this evening, the battleground now shifts. new numbers now out shows mitt romney gaining ground on middle class families, a 14-point lead over president obama. romney's now making the point that his middle class tax cuts will give much more take-home pay to middle class folks. douglas holtz eakin walks us through the numbers. >>> a punch line at last night's emmys but it is true. american liberals are being brainwashed by hollywood, and hollywood is being brainwashed by obama. we're going to reveal how one network's primetime show shilling for obama care. first up thi
ceos, does the pessimism spell trouble for president obama and maybe the rest of us also? president obama and mitt romney meanwhile battling it out in the swing state of ohio. john harwood joins us now with all the details. good evening, john. >> good evening, larry. you know, in the wake of that 47% video last week, mitt romney's got a new message and that's to tell middle class people as well as the poor that he cares about them. he did it on the stump in ohio today, he also did it in an interview with our nbc colleague ron allen just a few minutes ago. here's mitt romney. >> i served as a pastor of a congregation with people of all different backgrounds and economic circumstances that i care very deeply about the american people and people of different socioeconomic circumstances. and i think throughout this campaign, as well, we've talked about my record in massachusetts. don't forget, i've got everybody in my state insured. >> and here's some numbers, larry, that show you why that is mitt romney's message rather than tax cuts. you can't compare in the state of ohio where a new
. a preview of what to say in the nominating speech of president obama in an interview that aired minutes ago on nbc. take a listen. >> we did have a good economy because we did have a lot of expansion. his approach is right and it will pay off if we renew his contract. explain why the economy he faced was much weaker and different than the one i faced so there is no way any president -- no president -- could have restored it to full health in just four years. >> all right. of course that's bill clinton talking about his favorite subject -- himself and his good economy. i'm okay with it, by the way. he did have a good economy. if he's going to blame bush and republicans for the financial melt down and housing crack up we ought to come clean with pressuring fannie mae and freddie mac, pressuring banks, making ub unaffordable subprime mortgages and mr. clinton signed the bill to end glass stee gel which ended up in hot shot banks taking risks. plus, mr. clinton will say tomorrow night he needs more time to finish the job. more time for what? aside from bashing republicans nobody knows his secon
chief justice john roberts as a bush appointee working for the re-election of barack obama. it's the economy, stupid, it will re-elect barack obama that will throw us off the fiscal cliff and all the fed money won't save us. this is a disaster, mark my words. >> i will mark those words. we will come back to you with much more about your fed gone rogue hypothesis. is anti-american protests spread across the middle east tonight as violent clashes erupted in yemen, iran, morocco and the sudan. you're looking at pictures from outside the u.s. embassy in cairo tonight where protests continue for a third straight day. that's where nbc's richard engle join us from this evening with the very latest? hello, richard. >> reporter: clashes are continuing here tonight in tahrir square near the u.s. embassy even at this late hour. they were not the only ones today. so far the clashes and protests by people who were infuriated by that obscure internet video that was so anti-islamic, so inflammatory, so far these protests have been relatively small and happened in at least 11 different countri
tape allegedly surfaces of barack obama saying he believes in redistribution. but that is no secrecresecret. and we will go live to libya. this is about a failed obama foreign policy. first up, breaking news chicago teachers suspend strike classes are scheduled to resume tomorrow. rahama, thank you. >> moments ago after seven days on strike. chicago teachers voted with an 98% to 2% to suspend their walkout and go back to work. in the nation's largest school district. some of the major issues include a 7% salary are increase over three years. based on students standardized test scores and principles retain hiring power. half of all new hires must be laid off teachers. 800 teachers delegates voted with an overwhelming majority suspending this strike. essential allly this walkout isr and teachers will return to the classroom tomorrow. >> 7% wage increase, is that right over three years? >> that is what i said. >> and secondly, is there anything we can report on the teacher's performance ratings issue which was such a roadblock to this whole deal? >> it was a lot
was a severe miscalculation. >> all right. the bungled obama administration in response to this possible terrorist act has now become a political football with president obama saying this to cbs. please take a listen. >> governor romney seems to have a tendency to shoot first and aim later and as president, one of the things i've learn side you can't do that, that it's important for you to make sure that the statements you make are backed up by the facts and that you've thought through the ramifications before you make them. >> shoot first, mr. president? what are you talking about? your cairo embassy first shot was a misfire. it was an apology and, frankly, i think if it weren't for hillary clinton, cia director general david petraeus and defense secretary leon panetta, you, sir, would not have known what to say to those muslim terrorists even tonight right now. also this evening, market's flat, but there are two big developments coming out of europe. the german supreme court okayed $190 billion contribution to a bailout fund in the netherlands' elections and then there's tomorrow when
>>> seconds away on "the kudlow report," is the party over for profit? is obama going to flood the oil market with strategic to bring prices down even more? why doesn't mitt romney just run a straight up tax cutting supply side campaign? get it on, mitt, just do it. "the kudlow report" adjustment moments away. >>> i always like to say there's a bull market somewhere. i promise to find it for you somewhere. i'm jim cramer and i'll see you tomorrow. hey larry what do you have for us? >> the question is how bad are the profit reports going to be? we'll cover it later in the show. good evening i'm larry kudlow, this is the kudlow report. a discord in the romney campaign. the former governor went at it against president obama. two major election speeches. to me it still felt the same old same old. romney was supposed to break new ground but he didn't. take a listen. >> the president, i'm convinced, has put us on a road to greece. i'll put us back on the road to a stronger america. >> nothing new there. president obama in cincinnati, well he says he's going to compromise. almost. lis
. that may wind up being a good thing. the question is will obama accolate, rahm emanuel fold like a cheap suit or will he hang tough and give some public order and decent education at a decent cost to the city of chicago and its families. >>> this evening, the president's leadership is being questioned over the fiscal cliff. listen tohouse speaker boehner over whether they can reach a deal with president obama. >> i'm not confident at all. the house has done its job on the sequester and looming tax hikes that will cost our economy some 700,000 jobs. the senate at some point has to act. on both of these, where's the president? where's this leadership? absent without leave. >> moody's today warned the fiscal cliff could cause another credit down grade. investors shrugged it off. the dow closed up 69 points, a 4 1/2 year high. with us to talk about the credit down grade and failed obama leadership we welcome back tom coburn and mr. rice and famed investor jim rogers sorts out the market for us. as america honors 9/11, armed lo hooligan hooligans tear down the american flag as president obama
do obama's gaffes go unpunished. the kudlow report is moments away. >> the bears won. but i don't think it was convincing. i'm calling it a five or six if we were bowling and using the replacement refs to figure out what the score was. see you tomorrow. larry, what do you have for us? >> good evening. everyone this is the kudlow report tonight. replacement referees in the nfl fans, players and politicians say this has to end take a listen. >> did you guys watch that game last night? >> i mean, give me a break. it is time to get the real refs and you know what, it remains me of president obama and the economy. if you can't get it right it is time to get out. >> the league is being put to the test of whether the nfl shield is truly bullet proof or will the $10 billion brand take a big hit and whether the ref's union to blame. fran tarkenton joins me to tell me what is going on. police clash with protesters and fire rubber bullets into the crowd. the protests seem to worry investors here as stocks slid late in the day the dow well 101 points. media jumped all over romney's remark.
kudlow. this is "the kudlow report." our top story tonight -- president obama must have known his sleep-inducing, flat, acceptance speech last night must have been an indication he knew three numbers ahead of time you need to know. 8.1% unemployment, 96,000 nonfarm payroll jobs added -- a terrible number -- and all 60 days before the election. it looks like his goose is cooked on the economy. we'll look at what the president had to say like this mugt. >> i'm asking you to rally around a set of goals for your country. goals in manufacturing, energy, education, national security and the deficit. real achievable plans that will lead to new jobs, more opportunity, and rebuild this economy on a stronger foundation. that's what we can do in the next four years and that is why i am running for a second term as president of the united states. >> all right. so far as i can tell that's the only time he said the word "jobs." i don't hear growth at all. maybe i missed something. i don't think so. we did hear government spending, i'm sorry, now called citizenship and tax the rich. i can tell you wha
. >> larry, what do you have for us? >> all right, if the liberals want to play gotcha games, obama said he believes in redistribution. we have the video for you. this is "the kudlow report." breaking news, nbc news has exclusively obtained video of president obama at a conference held at loyola university in chicago in october 1998 and it gives you a clue to the true obama. >> i think the trick is figuring out how do we structure government systems that pool resources and hence facilitate some redistribution, because i actually believe in redistribution, at least at a certain level to make sure that everybody's got a shot. >> all right, you heard him say it, redistribution, i'm not shocked at that, we just wanted to play this tape. a growing number of conservatives are telling mitt romney, own that 40% video, fix your campaign or you're going to lose the election, some are using the words to describe mitt romney as cowardly. if mitt stays on message, he's going to do just fine. new numbers out from the congressional budget office show that 6 million americans will be hit with obama care ta
president obama? good evening, everyone, i'm larry kudlow. this is "the kudlow report." news breaking just minutes ago an activist wisconsin judge has struck down governor scott walker's courageous law to limit collective bargaining rights for public workers. the judge says it violates not only state law but the u.s. constitution also. and we have more breaking news tonight. the u.s. downgraded by the egan-jones credit rating agency citing that ben bernanke's quantitative easing will hurt the american economy, reduce the value of the dollar and lower our credit quality. we're going to come right back with that. but folks, $500 billion and nearly so of new fed money, it's already spurred a 4% stock rally over the past two weeks just on the rumor. 287 points up this week alone. markets closed up today. now, even though i disagree with bernanke, i'm going to show you how $500 billion will help the market, at least in the short run. plus, if ben bernanke thinks the economy is so bad that he had to act so quickly and dramatically, then the question becomes can mitt romney walk through the bad e
received by the people that president obama was trying to reach in this election. he was fighting against two different deficits. one was an enthusiasm deficit, a disappointment that people were feeling. he took that on by saying he still has hope and he put it to voters out there to say, you can choose the future for america that i'm articulating. he talked a at the end right as he closed the speech about it being a longer path, a difficult path. asked the american people to stick with him. he was describing the ways in which he wants to invest in education, in science, in innovation. touched on some of the points you mentioned about taxes. i do think he intends to pursue some form of a grand bargain after this election. he alluded to that. but this is a speech that was president obama communicating with both voters and his base. i think it went over very, very well. >> john, you have his base there. seems biden got louder applause. maybe the audio was turned down on this -- >> i think that was an audio problem. >> either way, either way, john, romney was criticized loudly for being ligh
. president obama may well have known and we ask tonight why shouldent susan rice resign and why shouldn't hillary clinton resign and why doesn't the buck stop with obama himself? this evening, with 1.3% gdp collapsing business investment and a contraction in chicago fed manufacturing, our question is, is this a stall speed speed recovery or are the signs out there that we are going back in to recession? in in addition, want a clue to what balm's patriotic policies are? look at a france. today france instituted a 75% tax rate for millions. more taxes and spending is coming here and i will show you how. first up, 17 days since our ambassador and three american heros were murdered by terrorists in benghazi. the obama white house is chajing their story again tonight. listen to what susan rice told the sunday shows two weeks ago, that a was five days after the attack. >> what happened in benghazi is in fact initially a spontaneous reaction to what had transpired hours before in cairo. >> we do not have information at present that leads us to conclude it was premeditated or preplanned. we don
for you to get out? it often does. >>> also today, a big business executive backing president obama on business. who says obama's bad for business? not this time. we'll talk to him in a short while and find out why. >>> and what this stock fed-ex says about the american economy. there is the chart. it is down about 1% today. you know the numbers. slashing the earnings forecast. blaming a weak global economy. shipments down. a real well weathbellwether. >> all is right with the world. you and i are back together again. >> great to be here. >> terrific. for months now, market watchers and pundits here at cnbc asked, where is the individual investor? how could they miss when rally? jeff cox found them and their cash and apparently they're back, right, jeff? >> they're back. if you look at cash starting to come off the sidelines. the latest american association of individual investors survey showing cash at 15-month lows in portfolios. now, it's an early sign. it's only one survey. but it shows that they're beginning to be confidence now from investors. maybe a little bit of movement no
returns to doing nothing? maybe not. we'll talk. meanwhile, president obama in an interview with cnbc says he would be willing to compromise on a budget deal, willing to give 2 $1/2 of spending cuts for every dollar in tax revenue. so is this a presidential compromise to avoid the cliff or just election year politicking? >>> also tonight, team romney sends out a booster e-mail to supporters. the first line, don't get too worked up about the latest polling. question, is obama winning the battle of the convention bounce? we'll look at how both team romney and team obama's fight to the finish will be played out in seven battleground states where the spread is in the margin of error territory. >>> also this evening, another worrisome sign for the economy, consumer credit shrank by more than $3 billion in july, americans are spending less, markets are basically sideways today and thousands of teachers strike in chicago putting hundreds of thousands of kids on the street. these teacher's salary, health care and retirement plans are vastly greater than any chicago family and still they want more.
not be more wrong. and clintonomics. do different times kaulg for different measures? former obama economic advisor peter orszag weighs in. plus, keeping up with kim kardashian. she's laying the grounds for a fashion empire and she's talking only to maria. ch, we understand the importance of your goals. today, our financial advisors lead from a new position of strength. together with bank of america, they have access to more resources than ever before. a steadfast commitment to help you achieve your financial goals in life. that's the power of the right advisor. that's merrill lynch. >>> welcome back, you heard the calls to break up the big banks, and it's been a hot topic. sandy wyle said this on "squawk box" back in july. take a listen. >> i think what we should probably do is go and political up investment banking from banking. have banks be deposit takers, make commercial loans and real estate loans. have them do something that will not risk the taxpayer dollars, that's not going to be too big to fail. >> my next guest begs to deliver, he is william harrison, the former ahead of jpmorga
headlines out of charlotte. first lady michelle obama speaking to the party faithful last night. bill clinton is tonight's headliner. we'll go to north carolina and check in with john harwood in a moment. >>> first, nfl kickoff, the giants and cowboys play tonight but the real game is on "squawk" this morning. we'll talk big business of the pigskin with the top nfl executive, mark wal erwaller at eastern time. and exclusive interview with indra nooyi from pepsico. and we'll talk to the owner of the new york jets, woody johnson at 7:15 eastern. and we have the owners of the cowboys and the giants, they will be live together at :15 eastern time. jerry jones and steve tisch in a "squawk box" exclusive. let's start with the top headlines, andrew. >>> let's talk facebook. it's promising not to sell stock to cover a $2 billion tax bill. it says it will cover that with existing cash and borrowing from credit facilities. as a result of the move, total outstanding shares will be reduced by 1.5 million shares. the company spinning it as a equivalent of buy back. the company disclosing rank and
. expectations for president obama's address tonight. >>> first though let's get you up to speed on the morning's top headlines. first up, the ecb is meeting in frankfurt today. this is a huge story. a rate decision is expected at about 7:45 eastern time. the real news is at 8:30 eastern. that's when mario draghi will be holding his news conference. the ecb president is expected to announce his framework for bond buying. it's said to be unlikely that intervention sides or yield targets will be given. we'll have more in a few minutes. >>> then of course we'll be bringing you the 7:45 announcement. about half of the economists polled are looking for a cut there interest rates. we'll be bringing you the headlines from draghi's news conference as they happen. >>> german chancellor angela merkel will be holding talks in madrid today. they are expected to focus on spain aus austerity measures. >>> the august adp numbers will be coming out at 8:15 eastern time. the u.s. economy added 145,000 private payrolls last month. obviously this is all huge news. it will all have an impact on the election bringi
of nuclear enrichment necessary to make a bomb. sglin credibly effective. tonight we asked first, will obama respond to netanyahu's red line? he wouldn't especially meet with him. second, has president obama outsourced his foreign policy to hillary clinton? and what about the incredible cover up of the libyan terrorist attack. this could be benghazi gate on the eve of the election. also this evening, mitt romney should draw a red line for middle income taxpayers and say you will not lose your deductions and you will get yours lower tax rates. he has to have a chris cal clear growth message in next week's debate. it could be his last chance. plus the nfl made a deal overnight and the real refs will be on the field this evening. this is a huge story where there were billions of dollars at stake. we have an exclusive new england patriots owner robert kraft joins me this evening. he is the first owner to speak out. all right. following monday's outburst by mahmoud ahmadinejad, it was israeli benjamin netanyahu's turn today. danielle lee joins us with the details. >> good evening. today prime min
means for the markets and your money. >>> will president obama's economic policy shift to the center? if he wins another term, my conversation with a man who knows. >>> the new york institution that's a slice of history, a wall street watering hole where you still might find the three martini launch at harry's cafe. >>> the reality tv star who has become a household name, can she make the move from party girl to mogul? the "wall street journal report" begins now. >> now, maria bartiromo. >> but first, here's sue herrera with the stories and headlines this week. >> thanks, maria. here's a look at what's making news as we head into a new week on wall street. it was a disappointing jobs report. the labor department reporting the economy created 96,000 jobs well below expectations of about 125,000. but the unemployment rate did fall to 8.1% from 8.3%. but that's because fewer people were participating in the labor force. revisions to june and july data showed 41,000 fewer jobs were created than first reported. mario delivered. the european central bank president announced a new aggressiv
this is basically a ruse that the obama campaign invented in order to not talk about the economy. do you remember the first time they brought up the tax rush issue was the monday after the july jobs report and they did it because it was a terrible jobs report and the media bit and they went after romney. remember the next time they did it, it was when jim mesina wrote a letter to the campaign, do you remember when he did that? it was the day of the august jobs number for the states when 44 states saw their unemployment number rise. nobody cares about this. that same washington post poll back in august showed only 20% of people thought it was relevant. he pays what the law requires and maybe more. he's not breaking laws and this is not an important thing and that's the tragedy of the whole thing and we're talking about something that isn't an issue at all. >> this is what the republicans don't get. the issue is not how much tax he paid unless he paid zero, which is he didn't. so the problem is for him is the credibility and does he play by a different set of rules. -- there's a car in the garage a
"wall street journal" poll finds that president obama is leading mitt romney nationally by five points among likely voters. john harwood will join us with more at 6:20 eastern. >>> on the lighter side of things, we'll have a special guest join us in chairs. david letterman's executive producer rob burnett, the director of an upcoming film called "we made this movie." it's got interesting angles on the market. >>> let's get you up to speed. >> he didn't really make that -- >> we made that movie. >> he didn't really make it. there were roads, there were studios that were built. >> you have to tell him that. you didn't really write that book. >> i didn't do a lot of things. the government did it. >> this strike. the draft agreement for the first time links teacher evaluation to student test scores. and if they don't improve, the worst performing teachers get fired. >> it's a slow process. tenured teachers still have some rights above. the deal would let the city lay off teachers based on performance rather than just how long they serve, which is the idea that that's the way it used to be.
they think will win. 46% think obama is going to win. 24% mitt romney. 31% don't know. we had 8 respondents to our survey. economists, money managers and strategists. but look at who they want to win. 53% to 18%. obviously, the national polls are much more evenly split. obama has a 1 in 4 lead depending upon which poll they read. they track the donations in wall street which has been far in favor of the gop and mitt romney. mitt romney has been critical of ben bernanke as well as his hundreding mate, paul ryan. so we asked f will mitt romney resign if obama wins? no. what about the biggest problems for the u.s. recovery? . it's still there. the euro crisis, though, has come down just a bit. tax and regulatory policies. what about the most important issue that we're going to be dealing with tomorrow? will there be more qe? it's shot up from 78% in july, 90% of our respondents say it's going to happen. and we haven't seen those kind of results since the eve of qe2. >> they don't think it's going to do much good. 59% say they won't lower the unemployment rate. the press conference of ben berna
to president obama. he capture it had all in a fascinating article he wrote for the current edition of "vanity fair" and get to that, michael in a few moments. i first want to start with this. welcome. >> thanks for having me back. >> president obama opened a six-point lead among registered voters. the first time, president obama's numbers are better than mitt romney's on the question of which candidate is better equipped to deal with the economy, 47-45. let's start with those politics, how do you react to those numbers? how do you think the president who is widely thought to be immensely focused on poll numbers, reacts to them and how much did you see him stressing over the economy? >> um, so first, i'm always surprised, always surprised that we get the reports of the national poll numbers because they are sort of meaningless for the race. what matters is half a dozen states what happened goes on inside the states. the national numbers, they are kind of irrelevant at this point. so, it's hard to know from those national numbers what it means for the head-to-head race in the states that are to
. president obama has repeatedly proposed raising all private equity taxes to 35% but that's been shelved until 2013. and that's at the federal level, maria. in the state of new york there's no difference between the level of capital gains versus income tax. but a source familiar with the matter says the state is evaluating the issue from two stances. one, the state could prosecute any false claims on firm's tax documents if actions were taken to avoid taxes. the second issue could add to the state coffers in the near term. that's the examination of when those fees convert into interest. y in state could argue they should be taxed in new york as soon as they hit the checkbook. the investigation is said to be at an early stage with the 13 private equity firms respond all competing for a request for information. the inquiry could be broader than just private equity with the potential to seek information from hedge funds and venture capital as well. similar to what the irs did. the irs also asked for the same information from hedge funds. likelihood we could see this expanded. >> is this jus
on their delegate and tonight michelle obama will be speaking and john harwood is in charlotte, joining us with a preview of all the action this morning. john? >> are you sure you're done with breaking news on joe's tape worm situation? >> i don't have one yet. if i get one, i know where it's -- andrew just got back from africa, john, which i'm sure you've been there, haven't you? >> caller: i have. >> you climb kilimanjaro or something or what did you do? >> i went there several times. most of the time i was covering unrest in south africa during the 1980s before mandela was released. >> you weren't in luxury tree houses with a jacuzzi in your room? >> i have been on luxury camping situations. it's pretty cool. but most was for reporting. >> good answer. >> andrew, if he gets sick at all any time in the next three months, you're going to get blamed. >> god knows what you brought back with you. >> i'm going to bring you a prescription. >> did you behave yourself over there? she was with you? >> yes. >> you were home every night? >> don't go there. >> let's go to the convention -- >> just l
, unless you get some hideous unemployment number, i still think the polls read pro obama. a lot of buzz on vacation about the 49 state sweep. utah, maybe wisconsin. i don't know. >> market positive? >> i'm saying that what i like, there's a lot of stuff saying if the challenger wins, it's good. i just like to know what's happening now and if you remember, if you know that you're going to get obama, you can do some planning, it's not necessarily positive planning, but you can do some planning. >> is the polling scientifically approved? >> i think a couple hundred responses. >> he's tamped in -- >> restaurant rossling or what was it. >> 157. the oieo. >> morgan stanley. >> got a great idea for the show. >> is it important? i should come back to spain's more important. i don't want to de-emphasize politics, but if spain, as spain goes goes new hampshire. how about that? give a little landon. >> morgan stanley receiving two upgrades. mike mayo upping the stock to buy. but they differ when it comes to goldman's. jpmorgan downgrading firm to underweight from neutral. jpmorgan says its prefere
the value of their investments since president obama took office? we look at the latest survey, which we'll talk about more later in the program. 34% of americans say their investments are better off than they were four years ago. just 29% said that they were worse with 28% about the same. the facts are the s&p 500 has skyrocketed over 70% in that time, of course, due to the central bank stimulus action. so what's the disconnect? joining us with answers so that and more is the pimco ceo. good to see you. thanks for joining us. >> thank you, maria. >> let me get your take with what's going on in spain right now. we've been looking at these pictures of protesting. it certainly feels like things are worsening there in terms of the unrest and certainly the economic challenges. what's your take on the latest? >> it's an indication of how difficult it is to go from designing a response to implementing it. one of the problems you have in europe is that parts of the populations are just fed up. they've had enough. so you start getting rejection. it's most acute in greece where you've had economi
're not going back. we're moving forward. that's why you're here today. >> that is president obama speaking to supporters in new hampshire. we'll monitor his talk to see if he does say anything about this morning's rather soggy to put it mildly jobs report. both candidates are on the road right now. governor romney as you see there or just about as you see there, he is set to appear at any moment and address supporters in i believe it is orange, iowa. now, earlier today, we did hear right here on cnbc from republican vice presidential candidate paul ryan exclusively. he spoke with carl quintanilla on "squawk on the street" earlier this morning and gave his reaction to the latest jobs data. let's listen. >> 8.1 this month means 43 months above 8%. remember when the president promised that he would prevent unemployment from getting above 8% if we passed the stimulus package? it's not been below 8% since then. making the predictions passing the stimulus, they said that unemployment down like at 5.4% today. this is just another example of lots of promises and lofty rhetoric made. >> all right.
reserves of shale gas. and spokesman for mitt romney says the obama administration should formally their china a currency manipulator. semiannual report due on the topic released by treasury in mid october. >> it had stopped for a while and yuan was slowly moving up, but then with all the pressures with their economy, it's kind of turned around. >> when you start messing around with china as a political football on either side, election nearing and -- >> and tensions between china and japan got pretty bad. i heard the lexus is going to be slowing down production because wealthy people don't want to buy a japanese luxury sedan. >> a lot of people that were wealthy aren't quite as wealthy as they used to be. i think trump was always railing about china, too. >> in other news out of washington, the white house is reportedly prepare to go direct federal agencies to develop guidelines for owners of power, water and other infrastructure facilities. it would give the agencies 90 days to propose new regulations and create a new cyber security council at the department of homeland security.
of the eurozone shows continued slump in services activity. >>> plus first lady michelle obama fires up the base in the democratic national convention, making the case for voters to give her husband a second term in office. >>> let's check in on markets as we sort of near the beginning of the u.s. trading session. dow jones industrial average sitting below that 13,000 mark is looking to open lower, taking fair value into account by about 35 point. nasdaq, s&p 500 are also in the red this morning a bit of a bigger move than we've seen with indecks in the last couple weeks. part keying off attitudes we've seen in markets overnight. let's take a look at cnbc ftse 100, down spurred by parts of asian demand, the fedex profit warning we've talked about, or change in guidance, that is, european markets for their part are also in red. ftse 100 down despite better tone. xetra dax down 0.3 trs. it's unusual for us to see all the vorcies doing the same thing. >> that eurozone pmi is coming out, nudged down from the flash number. what's the impact on the spanish bond yield? they are lower than we were two d
multi-year highs by the close. all eyes tonight on president obama at the national convention. >>> let's show you near final figures here. we're going out near the highs of the day for all of the major averages. with the do you up, a gain of almost 1.9%. we're just about at that five year high there, aren't we? nasdaq is a 12 year high, and the s&p about a four and a half year high, a 2% gain there. >> investors cheering europe's bond buying plan today. is this market rally here to stay? especially in a months that historically one of the worst months of the year. >> we have our panel to weigh in as we look at our jobs reform tomorrow. meg mcclellin, and rick santelli is staying late for us. rick, what do you make of the market response today? very dramatic and strong. >> i agree it's government induced, but it doesn't change the fact that everybody in that s&p pit, if they choose to take out their money, their going to get a check. it's real in that regard. i think a better question is one or two years down the road, will spain's unemployment and housing going to catch up with it? and
mentioned president obama and mitt romney hitting the spring state of ohio in duelling events. the president speaking ott bowling green university. governor romney in bedford heights, pushing his economic plan to business leaders there. the polls show the president is holding a lead in the state. cnbc's chief washington correspondent john harwood has the latest on that. >> the 18 electoral votes in ohio are critical. no republicans won the white house without them. mitt romney is in a hole in ohio now. new york times cbs poll out this morning showed him down by 10 percentage points in ohio. other polls show it closer. everybody agrees he's behind. look at the numbers. it tells you about his ohio trouble from this poll when you ask people who's better on the economy, that's mitt romney's signature issue. barack obama by 51 to 45%. when you ask who would favor the rich, 8% say president obama. 58% say mitt romney. that's not good for him. when asked does mitt romney or barack obama understand the problems of people like you, by 59% to 38% people say obama understands, romney does not. that exp
backed obama the last election, but i want to back mr. romney this election. it's all about the economy. >> in particular, the small business section, i thought, was quite good. that hit on the key issues we've been writing and talking about a lot. >> we're trying to save the soul of america. >> why is it that the president doesn't speak to the most important issue? that is, getting people back to work. >> that last person, a former new york senator alfon stamato. president obama has certainly raised funs in the new york area as well, but has he lost wall street? has he lost it forever? chief washington correspondent john harwood with thoughts live in d.c. hi, john. >> hey, tyler. he certainly lost it for now. if you look atted fund-raising numbers, mitt romney has raised more than $11 million for wall street. barack obama, almost one-third of that or a little over one-third, $4 million four years ago. he outraised john mccain substantially. that simply reflects many of the issues that motivated people on wall street four years ago in the wake of the george bush presidency, the unpopula
obama and clinton said earlier this week at the dnc. a lot to get to. but a lot more corporate news in addition to job this is morning. i know you guys have that covered top to bottom. >> we look forward to that interview. we want to get you caught up on where the futures markets are standing. we had a big global rally. here we have the futures markets have pared their gains. keep in mind that the dow had closed at the highest levels in many years here, since december '07. holding on to some gains here. s&p 500 looking at 2.5 at the hope. as for the picture over in europe, holding on to the gains across the board. our roadmap starts with jobs. that goldman now saying chances of further easing are above 50%. >> and what about europe? shares pared gains after hitting 13-month highs. but spanish and italian bonds, rising month highs. china's market, very strong. big spending on things like subway construction. >> bell slumping premarket. the chip giant cutting third-quarter sales citing a challenging macro environment and weakness in the pc enterprise market. are we watching the death
president obama's record. >> we speak to ford as they are trying to get sales moving in europe again. >> announcer: you're watching "worldwide exchange" bringing you business news from around the globe. >>> okay. ross westgate is taking a well-deserved break. karen cho is here for a jam packed show. >> it's certainly a big day as we wait it out for the ecb. we've been waiting to see what mario draghi's going to be saying since late july. this is the big day markets are waiting. >> speculation increasing over the last 24 hours. we're also waiting on the bank of england decision. we've got another product launch today with amazon, perhaps another kindle fire coming. and then there's president obama's speech in new york -- or in charlotte tonight that everyone's going to watch for. he hints about economic policy as well. >> coming up on today's show we head out to south korea to a country that's economy grew at a slower pace than initially estimated you we'll also get a reaction in sweden. >>> we're live in charlotte, north carolina, ahead of president obama's big speech at the democrat
. >> they are so greedy, they just keep going. they'd love to see, balma get in. they are dying to have obama get in, but they can't wait that extra 70 days. >> and is opec actually conspiring to prime more pain at the pump for americans? and is $5 per gallon gas now more of a reality? all that and a lot more today on "the closing bell." [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ ] i'm with scottrade. >>> welcome back. forget all the talk about china eating our lunch. have you checked the stock market in china lately? it's at lows not seen since march 2009. two key economic reports showing china's manufacturing sector shrinking. at the fastest pace since the global financial crisis. as we bring this conver
as president obama's former right-hand man takes on the union in his, president obama's, hometown. >>> second, there will be war with iran? only a few people know the answer. only a few have a hand in the decision. one of them is with us today. >>> and one of the biggest names in the business of hip-hop sends a message to occupy wall street. leave the 1% alone, says jay-z. that's all coming up but we start with sue at the nyse. >>> indeed, if you're a parent in chicago watching us while you watch your kid today, welcome to "power lunch." a major teachers strike is on in the nation's third largest school district. that is chicago. take a look at this. a picture of one of those kids on his way to work today with his parent at the goldman sachs office in chicago. indeed, some are calling it drag your kids to work day. nbc's kevin tibbles is live in chicago with those protesting teachers. >> reporter: hey, sue. behind me is quite a boisterous demonstration outside the ray school in chicago. those people who were taking their kids to work with them are probably the lucky ones. some 400,000 kids ar
, one to the romney argument, one to the obama argument. when you ask are you better off than you were four years ago when barack obama became president, you see a split. 38% say yes, i'm better off. 41%, 3% more, say no. they are worse off, 21% say they are still the same. but barack obama wants to make it a forward-looking race about the next four years and when you ask who is better prepared to lead the country for the next four, you see president obama ahead 47%, that's distinct. mitt romney talks about americans, 47% who pay no income taxes being dependent on the government, look at these leads it mitt romney has among senior citizens, 15 percentage points, those who say he is better prepared to lead the country, five points among people with incomes of 30,000 to 50,000. why do i cite those two? because senior citizens and working families are among the people in that 47% category that mitt romney was talking b smavgt the tax foundation says, tyler that married couples with two children up to 47,000 dollars in income will generally is no income tax liability. >> john harwood, than
. >> not to mention an event going on in charlotte tonight. and president obama is getting up to make his case for where the economy stands. i think all of this rolls into that. going to be very interesting to see how he handles this. >> rick on the ecb move this morning, did you get what you expected? what do you make of that? >> trader were a little shocks. even the spanish stock market was up. they're not challenging europe's capital or paper. they were surprised by the amount of horsepower in the marketplace and i think they want to jump on board. i think they will see more of the same as this spiral of a microphone carries europe much higher. it has a half-life, they need to come back with here is our growth plan after they stabilize rates, i think we will all be blue as we hold our breath waiting for that. >> that could be part of what's going on today, a short covering as all. thank you. >> today's move highlights a warning that other investors told us about which is things don't look so good in the economy necessarily, but central banks can step in at any time, and you have a rip your
president obama's re-election bid. >>> welcome on today's show. the u.s. is back today. did you enjoy the labor day weekend? >> we were laboring on labor day yesterday, which is appropriate, actually. >> and the data starts, right? the data countdown. >> ism today, jobs report friday. so much happening. >> let's remind what you is on the show today. we'll head out to wrbrussels to hear from the man to talk. and we wait for david cameron to confirm the cabinet reshuffle. >>> as the rba leaves rates on hold we head out to australia to hear from jpmorgan. >>> the democratic convention is set to kick off. >>> one hour into the trade daigle in europe. weighted to the downside at the moment. advances outpaced by decliners. by a little around six to four, a little less than that. let's show you where we stand as far as the ftse 100 is today. the ibex actually up 8% so that market is benefitting from these draghi comments suggesting bond buying wouldn't breach the rules, which is fairly encouraging. euro/dollar -- well, let's show you how that's had an impact on spanish debt yields. up to aro
have started to arrive here. hillary clinton will be heading the delegation in lieu of barack obama. i think a lot of the discussion and focus will be on some of the bilateral meetings, especially with the simmering tensions within the region about territorial issues and, of course, syria. we're gearing up for a big weekend here as apec summit kicks off here this weekend. back toy. >> covering all of that. we're already seeing some commentary from putin. in fact, i think even the provisional statement coming out of that meeting. in any case, still to come on the program this morning, will china's reported $160 billion infrastructure spending spree help revif the mainland steel industry? bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "hon
in the country but there are some. and what you had was prosecute president obama casting a much more somber tone than four years. that fits the fact he has an unemployment rate over 8%, a very slow economy. you talked about the jobs number coming this morning. he was trying to come to terms with the disappointment many people have felt in the results of the first four years. he said, i've always told you it's not going to be easy. here's the president. >> i won't pretend the path i'm offering is quick or easy. i never have. you didn't elect me to tell you what you wanted to hear. you elected me to tell you the truth. and the truth is it will take require, effort, and the bold, persistent experimentation president roosevelt used during a crisis worse than this one. >> reporter: the president went on to say democrats should regard government as a solution for every problem but it was a strong defense as some role for government, education, science, innovation, and he left vice president biden to do the sharper attack on mitt romney, framing romney's values and approach in the context of the auto r
and obama will campaign in florida today. both campaigns are reaching back into the past, attacking each other with videotaped messages. and yesterday jack welch kept saying why 2016. romney's assessment of obama supporters and a secretly recorded meeting of a hedge fund guy during a private fund-raising earlier this year still causing problems for his campaign it says here. but now republicans are firing back accusing president obama of trying to redistribute wealth, using a 1998 recording of then senator barack obama talking about make government more efficient at a loyola university chicago conference. check it out. >> i think the trick is figuring out how do we structure government systems that pool resources and hence facilitate some redistribution. because i actually believe in rediss friday abuse. at least at a certain level to make sure that everybody's got a shot. >> he said some years ago something which we're hearing about today on the internet. he said that he believes in redistribution. >> governor romney and congressman ryan would redistribute wealth for tr middle class fam
together. the interesting thing is if obama wins, the white house indicates they're going to have negotiations with the republicans, and they're trying to make the fiscal cliff look -- trying to make the president look bold enough to go over the fiscal cliff as a bargaining tactic with the republicans. whether it works, gosh, i don't know. >> how do you read the difference between the president and mitt romney in their approach to fixing the deficit? especially when it comes to medicare? do you think either has a chance to repair that? >> well, i hope so because the program is broken. i wrote a column this week suggesting that whoever is going to cut medicare is a real distraction. both of them are going to cut medicare, because change means changing the program so it doesn't cost as much as it's predicted to cost. the obama budget and paul ryan's budget, the one crafted by mitt romney's running mate take us to about the same amount of money spent on medicare ten years from now. but they get there in a very different way. do we have the government change is, trying to make provide
. which candidate has the better energy plan in your view? >> well, obama has no energy plan. he talks about energy a little bit. he never has a plan. romney has a good plan, and i believe romney will carry it out. that all the people that have run for president since nixon, republican and democrat, have always said elect me and we'll be energy independent. romney has not said that. he has said with a north american alliance, that we can bring together mexico, canada, and the united states, and we can be energy independent using all of north america. but that's good because they're good neighbors. we work well together. all that can be accomplished, but romney is realistic about a plan. his plan is use our own resources. >> and we know that's a job creator. do you think he has a shot to win the election? >> oh, i think he will win the election. i think he has energy as a big component. there are 30 states in the united states now that produce energy. when i went in the energy business a long, long time ago, there was only nine states. there are 30 states now. so millions of jobs are cr
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